Gates Capital Management, Inc. In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Gates Capital Management, Inc. reported 30 stock positions worth $3.4 billion . Its top holding was Darling Ingredients (DAR) at 6.6% of the portfolio, followed by Atkore (ATKR, 6.4% ) and Carrier Global (CARR, 5.9% ). Compared with Q3 2024, it opened 3 new positions, added to 9 and reduced 15. The biggest buy was a new position in Yeti (YETI) and the biggest sale Revelyst (GEAR, shares −11% ).
Location New York, NY
CIK 0001312908
Portfolio Value $3.4B (Q4 2024) Holdings 30 stocks · $3.4B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 DAR Darling Ingredients Inc. 6,668,443 $224.7M Add +11.4% ATKR Atkore Inc. 2,607,354 $217.6M Add +29.6% CARR Carrier Global Corp. 2,933,063 $200.2M No change FTV Fortive Corp. 2,413,371 $181.0M Reduce -14.2% APG Api Group Corp. 5,013,884 $180.3M Reduce -14.3% CRH CRH PLC 1,746,995 $161.6M Reduce -8.1% RTO Rentokil Initial PLC-SP ADR 6,258,013 $158.5M Add +21.0% SPGI S&P Global Inc. 287,554 $143.2M No change MBC Masterbrand Inc. 9,489,578 $138.6M Add +7.5% YETI Yeti Holdings Inc. filed as YETI HLDGS INC 3,514,819 $135.4M New PNR Pentair PLC 1,332,140 $134.1M Reduce -6.9% VLTO Veralto Corp. 1,205,323 $122.8M Reduce -0.1% KVUE Kenvue Inc. 5,460,529 $116.6M Reduce -16.4% TKO Tko Group Holdings Inc. 798,264 $113.4M Add +9.3% DVA Davita Inc. 717,507 $107.3M Reduce -0.5% GLPI Gaming and Leisure Propertie 2,098,022 $101.0M No change GEAR Revelyst Inc. 4,979,899 $95.8M Reduce -10.9% GTLS Chart Industries Inc. 480,898 $91.8M Reduce -3.5% NVST Envista Holdings Corp. 4,694,148 $90.6M Add +15.1% LW Lamb Weston Holdings Inc. 1,345,531 $89.9M Reduce -41.3% VICI Vici Properties Inc. filed as VICI PPTYS INC 3,021,760 $88.3M Add +13.1% AWI Armstrong World Industries 615,445 $87.0M Reduce -9.6% WH Wyndham Hotels & Resorts Inc. 734,266 $74.0M Reduce -19.5% GEHC GE Healthcare Technology 906,256 $70.9M Reduce -2.7% OTIS Otis Worldwide Corp. 761,748 $70.5M Reduce -7.9% ESI Element Solutions Inc. 2,686,495 $68.3M Add +5.3% ENTG Entegris Inc. 509,854 $50.5M Reduce -28.6% GTX Garrett Motion Inc. 4,437,259 $40.1M New CCSI Consensus Cloud Solution 1,613,501 $38.5M Add +1.0% MERC Mercer International Inc. 1,037,394 $6.7M New
Options reported separately and not counted above: XLI puts ($856.4M), XLI calls ($625.9M), XLB puts ($210.3M), XLB calls ($147.2M), CARR puts ($54.1M), GEHC puts ($18.2M), TKO puts ($14.2M).
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ GEAR Revelyst Inc. Reduce -10.9% 2.82% −3.40 LW Lamb Weston Holdings Inc. Reduce -41.3% 2.65% −1.56 FTV Fortive Corp. Reduce -14.2% 5.33% −0.97 KVUE Kenvue Inc. Reduce -16.4% 3.43% −0.86 ENTG Entegris Inc. Reduce -28.6% 1.49% −0.79 GEHC GE Healthcare Technology Reduce -2.7% 2.08% −0.40 OTIS Otis Worldwide Corp. Reduce -7.9% 2.08% −0.36 CRH CRH PLC Reduce -8.1% 4.76% −0.25 VLTO Veralto Corp. Reduce -0.1% 3.61% −0.22 DVA Davita Inc. Reduce -0.5% 3.16% −0.20 APG Api Group Corp. Reduce -14.3% 5.31% −0.17 PNR Pentair PLC Reduce -6.9% 3.94% −0.02 AWI Armstrong World Industries Reduce -9.6% 2.56% +0.02 WH Wyndham Hotels & Resorts Inc. Reduce -19.5% 2.18% +0.16 GTLS Chart Industries Inc. Reduce -3.5% 2.70% +0.94
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ YETI Yeti Holdings Inc. New 3.98% +3.98 ATKR Atkore Inc. Add +29.6% 6.40% +1.56 GTX Garrett Motion Inc. New 1.18% +1.18 RTO Rentokil Initial PLC-SP ADR Add +21.0% 4.66% +1.00 TKO Tko Group Holdings Inc. Add +9.3% 3.34% +0.77 NVST Envista Holdings Corp. Add +15.1% 2.66% +0.38 DAR Darling Ingredients Inc. Add +11.4% 6.61% +0.30 MERC Mercer International Inc. New 0.20% +0.20 VICI Vici Properties Inc. Add +13.1% 2.60% +0.07 CCSI Consensus Cloud Solution Add +1.0% 1.13% +0.07 ESI Element Solutions Inc. Add +5.3% 2.01% +0.04 MBC Masterbrand Inc. Add +7.5% 4.08% −0.57
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ XLI SS Industrial Select Sector put Add +8.3% 6,500,000 $856.4M XLI SS Industrial Select Sector call Reduce -5.0% 4,750,000 $625.9M XLB SS Materials Select Sector put Reduce -16.7% 2,500,000 $210.3M XLB SS Materials Select Sector call Reduce -30.0% 1,750,000 $147.2M CARR Carrier Global Corp. put Reduce -43.4% 793,000 $54.1M GEHC GE Healthcare Technology put Reduce -66.7% 232,900 $18.2M TKO Tko Group Holdings Inc. put New 100,000 $14.2M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 31 $3.0B DAR, TIC, DVA, RTO, SPGI Q1 2026 31 $2.9B ATKR, DAR, TIC, CARR, SPGI Q4 2025 28 $2.9B ATKR, DAR, CARR, SPGI, TIC Q3 2025 29 $3.2B FTV, ATKR, CARR, DAR, DVA Q2 2025 29 $3.3B DAR, CARR, ATKR, FTV, GTLS Q1 2025 29 $3.2B DAR, ATKR, FTV, CARR, RTO Q4 2024 30 $3.4B DAR, ATKR, CARR, FTV, APG Q3 2024 27 $3.5B CARR, DAR, FTV, VSTO, APG Q2 2024 30 $3.3B VSTO, CARR, CRH, RTO, KVUE Q1 2024 31 $3.4B CARR, VSTO, CRH, RTO, MBC